|
Report No. : |
339731 |
|
Report Date : |
10.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
TAIWAN SURFACTANT CORP. |
|
|
|
|
Registered Office : |
8FL., No.11, Sec.1, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
15.02.1979 |
|
|
|
|
Com. Reg. No.: |
12213318 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Subject is engaged in manufacturing and
sales of surfactants. |
|
|
|
|
No. of Employee : |
About 135 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Taiwan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
TAIWAN - ECONOMIC OVERVIEW
Taiwan has a dynamic capitalist economy with gradually decreasing government guidance of investment and foreign trade. Exports, led by electronics, machinery, and petrochemicals have provided the primary impetus for economic development. This heavy dependence on exports exposes the economy to fluctuations in world demand. Taiwan's diplomatic isolation, low birth rate, and rapidly aging population are other major long-term challenges.
Free trade agreements have proliferated in East Asia over the past several years. Following the landmark Economic Cooperation Framework Agreement (ECFA) signed with China in June 2010, Taiwan in July 2013 signed a free trade deal with New Zealand - Taipei’s first-ever with a country with which it does not maintain diplomatic relations - and, in November, inked a trade pact with Singapore. However, follow-on components of the ECFA, including a signed agreement on trade in services and negotiations on trade in goods and dispute resolution, have stalled. In early 2014, the government bowed to public demand and proposed a new law governing the oversight of cross-Strait agreements, before any additional deals with China are implemented; the legislature has yet to vote on such legislation, leaving the future of ECFA up in the air as President MA enters his final full year in office. MA has portrayed ECFA as Taiwan’s key to greater participation in East Asia’s free trade networks.
Taiwan's total fertility rate of just over one child per woman is among the lowest in the world, raising the prospect of future labor shortages, falling domestic demand, and declining tax revenues. Taiwan's population is aging quickly, with the number of people over 65 expected to account for nearly 20% of the island's total population by 2025.
The island runs a trade surplus, largely because of its surplus with China, and its foreign reserves are the world's fifth largest, behind those of China, Japan, Saudi Arabia, and Switzerland. In 2006 China overtook the US to become Taiwan's second-largest source of imports after Japan. China is also the island's number one destination for foreign direct investment. Taiwan since 2009 has gradually loosened rules governing Chinese investment on the island and has also secured greater market access for its investors in the mainland. In August 2012, the Taiwan Central Bank signed a memorandum of understanding (MOU) on cross-Strait currency settlement with its Chinese counterpart. The MOU allows for the direct settlement of Chinese RMB and the New Taiwan dollar across the Strait, which has helped Taiwan develop into a local RMB hub.
Closer economic links with the mainland bring greater opportunities for Taiwan’s economy but also pose new challenges as the island becomes more economically dependent on China at a time when political differences remain unresolved. During 2014, the press paid increasing attention to domestic economic issues, while pushing aside the debates over trade liberalization that were a hallmark of MA’s tenure. The media focused on the divide between Taiwan’s “haves” and “have nots,” providing extensive coverage of public frustration with stagnant wages, skyrocketing housing prices, and the difficulty of finding decent entry-level jobs.
|
Source
: CIA |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
8FL., No.11, Sec.1, Chung Shan North Road,
Taipei, Taiwan, R.O.C. |
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-2541-0022 |
|
Fax Number: |
+886-2-2542-3773 |
|
E-mail: |
Notes: The exact name and address are as above.
|
Registered Name: |
TAIWAN SURFACTANT CORP. |
|
Registered Address: |
8FL., No.11, Sec.1, Chung Shan North Road, Taipei, Taiwan, R.O.C. |
|
Date of Foundation: |
1979-2-15 |
|
Registration Number: |
12213318 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
(As of 2015.09, 1 NTD = 0.032 USD) |
|
Paid-up Capital: |
NTD 547,740,000 (USD 17,528) |
|
Legal Representatives: |
Zhenghui Xie |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock
Exchange: |
|
|
Date of Last
Annual Return: |
Subject was incorporated on 1979-2-15 with registered number 12213318 as Joint Stock Company in
Taiwan.
Factories
|
1 |
|
|
Name: |
Guan Yin Factory |
|
Address: |
No. 514,
Cheng-Kung Rd, Sec. 1, Kwang-Inn Industrial Area, Taoyuan County, Taiwan |
|
Date of Foundation: |
1986-11-18 |
|
Date of Registration: |
1990-8-21 |
|
Factory Registration Number: |
99621999 |
|
Factory Manager: |
Zhenghui Xie |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2014-10-25 |
|
Major Products: |
193 Cleaning
Products |
|
Telephone Number: |
+886-3-483-9421 |
|
Fax Number: |
+886-3-483-9140 |
|
2 |
|
|
Name: |
Sino Surfactant (Shanghai) Co., Ltd (Liberal Translation) |
|
Address: |
No.111 Chun Hua Road, Jinshan Industry Zone No.2 Jinshan, Shanghai,
China, 201512 |
|
Telephone Number: |
+86-21-6726-2323 |
|
Fax Number: |
+86-21-6726-1137 |
Offices
|
Name: |
Shanghai Office |
|
Address: |
Room 202,Liwei Technology Building, No.3203,Hongmei Road, Minhang
District ,Shanghai,201103 |
|
Telephone Number: |
+86-21-6405-2300/21-6405-2338 |
|
Fax Number: |
+86-21-6405-2332 |
Major Shareholders
|
Name |
Subscription Shares |
|
Zhenghui Xie |
9,486,000 |
|
Taiyang Lian |
7,497,820 |
|
Zhenqi Wu |
4,285,440 |
|
Zhengcheng Huang |
2,073,000 |
|
Suniang Zhang |
1,482,000 |
|
Xiumei Huang |
1,808,505 |
|
Zongren Wang |
2,661,000 |
|
Yan Lin |
547,000 |
|
Shumei Jiangfan |
2,658,000 |
|
Xueyan Pan |
1,258,560 |
Core Management
Directors
|
1 |
||
|
Name |
Zhenghui Xie |
|
|
Position |
Board Chairman |
|
|
2 |
||
|
Name |
Taiyang Lian |
|
|
Position |
Executive
Director |
|
|
3 |
||
|
Name |
Zhenqi Wu |
|
|
Position |
Executive
Director |
|
|
4 |
||
|
Name |
Zhengcheng Huang |
|
|
Position |
Director |
|
|
5 |
||
|
Name |
Suniang Zhang |
|
|
Position |
Director |
|
|
6 |
||
|
Name |
Xiumei Huang |
|
|
Position |
Director |
|
|
7 |
||
|
Name |
Zongren Wang |
|
|
Position |
Director |
|
|
8 |
||
|
Name |
Yan Lin |
|
|
Position |
Director |
|
|
9 |
||
|
Name |
Shumei Jiangfan |
|
|
Position |
Director |
|
|
10 |
||
|
Name |
Xueyan Pan |
|
|
Position |
Supervisor |
|
Personnel Structure
|
Total Employees |
About 135 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
8FL., No.11, Sec.1, Chung Shan North Road, Taipei, Taiwan, R.O.C. |
Production Information
l
Subject is engaged in manufacturing of surfactants and etc.
l
Subject has two factories in Taiwan and Shanghai City, the mainland of China for production.
l
Subject obtained the certification of ISO9001：2008 and etc.
Purchase Information
l
The registered activities of subject:
|
|
Details |
|
1 |
Manufacture and sales of interfacial agent, Paint
raw materials, synthetic resin and other industrial materials except
poisonous and disposed products |
|
2 |
Sales of products of domestic and overseas
customers |
|
3 |
Import and export trading business of relevant
products |
|
4 |
Bidding service, price quoting service and other
service for domestic and overseas customers |
l
Subject purchases its raw materials and etc both at
home and abroad.
l
It is introduced that subject imports some
technologies from Germany.
l Subject is engaged
in sale of surfactants and etc.
l
The major products include Amphoteric surfactant,
Cationic surfactant, Agricultural surfactant, Personal care & household
surfactant, Miscellaneous, Anionic surfactant, Nonionic surfactant, Textile
auxiliaries and Electronic chemicals, etc.
l
Subject’s sales regions include Asia, Europe,
America and etc.
l
Subject’s major customers are manufacturers of
textiles, leather products, plastic items and etc.
l
It is introduced that subject’s products are
applied to textiles, home and personal care products, pesticide, plastic and
electronics, etc.
l
It is introduced that subject has many customers
such as Archroma U.S., Inc., STARCHEM LLC, Durachem Group, Inc
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
1.
Domestic Purchase
|
Products |
Raw materials, etc |
|
Payment Terms |
T/T, Cash, etc. |
2.
Import
|
Products |
Raw materials, etc |
|
Payment Terms |
L/C, T/T, etc. |
Sales
1.
Domestic Markets
|
Product |
Surfactants, etc. |
|
Selling Terms |
T/T, Cash, etc. |
2.
Export
|
Product |
Surfactants, etc. |
|
Selling Terms |
L/C, T/T, etc. |
Subject has no obligations to disclose its financial statements to the third
party according to the relevant policy in Taiwan and the only source from which
we can obtain the information is the subject itself.
Subject’s relevant staff Ms. Lin declined to disclose its financials citing
the grounds of company’s confidentiality; from other sources we could not
obtain such information, either.
Subject declined
to disclose its bank details; from other source we could not obtain the
relevant information, either.
Mortgage
No chattel
mortgage record of subject has been found within the recent 3 months.
Lawsuit
Up to date of
reporting, no existing or latent litigation of the subject has been found.
Interview Details
|
Name |
Ms. Lin |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.29 |
|
UK Pound |
1 |
Rs.101.89 |
|
Euro |
1 |
Rs.73.98 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ASH |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.